As Saudi Arabia accelerates its transformation under Vision 2030, the Kingdom is preparing to host one of the world’s most high-profile events—Expo 2030. Signaling its commitment to global engagement, economic diversification, and innovation, the Public Investment Fund (PIF) has taken a major step forward in organizing the landmark event.

Saudi Arabia’s PIF has launched Expo 2030 Riyadh Co., a wholly owned company responsible for the development, management, and operation of all infrastructure and programming related to Expo 2030. This marks the Kingdom’s first time hosting a World Expo.

During its development phase, the project is expected to contribute $64 billion to Saudi Arabia’s GDP and create around 171,000 jobs. Once operational, it is projected to add $5.6 billion to the national economy.

According to an official statement released Thursday, the new company, ERC, will oversee the Expo’s delivery and ensure a lasting legacy. It will work with local and international private sector partners on construction, cultural programming, and event operations.

“ERC benefits from PIF’s diverse local and global ecosystem and the establishment of the company aligns with PIF’s local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030,” said Saad Al-proud, head of PIF’s Local Real Estate Investment Division.

The 6 million sq. m site, located north of Riyadh near the future King Salman International Airport, will be among the largest World Expo venues ever built.

Running from October 1, 2030, to March 31, 2031, Expo 2030 is expected to draw over 40 million visits. Post-event, the site will be converted into a “global village,” aligning with Saudi Arabia’s long-term goals in sustainable tourism and innovation.